Wise investors buy rentals hoping the houses will later appeal to first-time home buyers upon resale. Many of these homes are priced at the lower end of the market and situated in nice neighborhoods. To maximize profit when selling, most landlords plan to sell their rental homes to first-time home buyers and not another landlord, because first-time home buyers may pay higher prices.
If you're buying a house that was once a rental, get a thorough home inspection and be prepared to negotiate for repairs.
However, if you're buying a home that was previously rented, you should exercise caution. A home that was occupied by tenants could be an excellent deal or it could be a deferred maintenance nightmare.
Look at the Neighborhood Before Buying a Rental House
Tour the Rental House Without the Tenants Present
Negotiating to Buy the Rental House From the Seller
Uncover Potential Defects in the Rental Home
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